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Bill Mitchell – Modern Monetary Theory

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Title of Bill Mitchell – Modern Monetary Theory: "Bill Mitchell – Modern Monetary Theory – Macroeconomic research, teaching and advocacy"

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Japan’s Government Pension Investment Fund and the yen – mainstream macro myths driving bad policy

With an national election approaching in Japan (February 8, 2026), there has been a lot of discussion about the so-called ‘weak yen’ and whether the Bank of Japan should be intervening to manage the value of the currency on international markets. PM Takaichi has been quoted as saying that the weak yen is good for…


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Japan goes to an election accompanied by a very confused economic debate

These notes will serve as part of a briefing document that I will send off to some interested parties in Japan. Japan is about to go to the poll for a snap national election on February 8. The recently installed Prime Minister, Ms Takaichi is betting that her recent solid showing in the polls will…


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Recent extended discussion with RadioMMT – Part 1

It is a public holiday in Australia today celebrating our national day – the day that the colonial powers of Britain first decided to set us up as a penal colony because they had run out of prison space in the old country due to the massive incarceration rates following the enclosures. The impoverished small…


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Australian labour market – stronger as employment growth outstrips the growth in the working age population

Today (January 22, 2026), the Australian Bureau of Statistics (ABS) released the latest labour force data – Labour Force, Australia – for December 2025 – which showed a relatively strong increase in employment and the rising participation rate – both good signs. Taken together the demand-side of the labour market outstripped the growth in the…


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AI is is fast becoming another control tool of capitalism

My friend Alan Kohler, who is the finance presenter at the ABC, wrote an interesting article today about AI (January 19, 2026) – AI platforms like Grok are an ethical, social and economic nightmare — and we’re starting to wake up – in which he argued that while he thought climate change was “humanity’s biggest…


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